The New Zealand Dollar has surged by 102 basis points or 1.59% against the US Dollar since yesterday’s trading session. The currency pair breached the upper boundary of an ascending channel pattern on Friday morning.
Given that a breakout had occurred, the exchange pair could continue to edge higher within this session. The potential target for the NZD/USD pair would be at the 0.6600 level.
However, today’s macroeconomic data releases scheduled at 12:30GMT could change the overall movement of the currency exchange rate during the following trading session.
